Two or 3 years ago I attended a Commonwealth Club presentation on the Intel/G.E. joint venture into this area. They have launched a beta test in the Sacramento area about a year ago and certainly have the horsepower to get this going. At the time, the discussion was entirely focused on dedicated hardware: no free smartphones, etc.
As for analyzing the data, the data should be parsed based on an emergency notification, or routine information for the patients' doctors. It will be much easier today and tomorrow (compared to even 3 years ago) to dump the data into a program and have the software sort it for trending and report the results to a real human.

Useful services...but who is going to analyze Petabytes of data created this way when it is massively deployed? the cost of transmission will be close to zero, sure, but about the cost of analyzing the data by a real person? or should we use Watson software for that purpose? Kris

Home patient monitoring is a much needed thing today as the old population is increasing day by day in the whole world and many of these old patients are unable to make frequent rounds of the hospital.
rightly so, the systems used for such patient monitoring should be made fool proof , tamper proof and dedicated to the purpose for which they are installed.